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Kent County/Magnolia/19962

19962

ZIPSAFMR
Kent County, DE
Zillow

ZIP Investment Score

80Below average

095130300
BRFMR
Eff. Rent
0 BR$1,230$1,350
1 BR$1,240$1,340
2 BR$1,560$1,720
3 BR$2,150$2,220
4 BR$2,480$2,500
5 BR$2,852Not available
6 BR$3,280Not available
7 BR$3,772Not available
8 BR$4,338Not available

Purchase Price Calculator

Maximum purchase price
$193,675

Cost breakdown

+Likely effective rent$1,720
HUD FMR$1,560
Market rent$1,850
Est. payment standard (110%)Used$1,720
-Principal and interest-$979
Loan amount$154,940
Down payment$38,735
Rate6.50%
Term30 years
-Operating costs-$541
Property taxes-$194
Insurance-$175
Utilities$0
HOA$0
Management-$172
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$27,643(71.4% ROI)
Projected value
$208,567
Return breakdown
Property appreciation+$14,892
Loan principal paid down+$5,551
Rental cash flow+$7,200
5-year hold
+$47,350(122.2% ROI)
Projected value
$219,125
Return breakdown
Property appreciation+$25,450
Loan principal paid down+$9,899
Rental cash flow+$12,000
10-year hold
+$101,833(262.9% ROI)
Projected value
$247,920
Return breakdown
Property appreciation+$54,245
Loan principal paid down+$23,588
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.75
1 BR
0.89
2 BR
0.84
3 BR
0.95
4 BR
0.99
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 19962 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 19962 (Magnolia, DE) is $1,560 a month. That is up 11.4% from $1,400 in FY 2026. Magnolia is in the Dover, DE MSA. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,629. Among 21 ZIP codes in Kent County, 19962 has the 14th-highest two-bedroom rent (county range $1,370–$2,000). The median county two-bedroom FMR in Delaware is $1,629, so ZIP 19962 is 4% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 19962
BedroomsFY 2027Change90–110% range
Studio$1,230+11.8%$1,107–$1,353
1BR$1,240+11.7%$1,116–$1,364
2BR$1,560+11.4%$1,404–$1,716
3BR$2,150+10.3%$1,935–$2,365
4BR$2,480+13.8%$2,232–$2,728

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 19962
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,230$1,240$1,560$2,150$2,480
FY 2026$1,100$1,110$1,400$1,950$2,180
FY 2025$1,130$1,140$1,440$2,010$2,200
FY 2024$1,060$1,070$1,310$1,850$2,060
FY 2023$890$900$1,080$1,530$1,730

Two-bedroom rent in nearby Kent County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 19962
19946$1,470−5.8%
19950$1,580+1.3%
19952$1,520−2.6%
19953$1,480−5.1%
19954$1,520−2.6%
19955$2,000+28.2%
19961$1,630+4.5%
19962Current$1,560—
19963$1,470−5.8%
19964$1,740+11.5%
19977$1,770+13.5%
19979$2,000+28.2%

Questions about ZIP 19962 rents

How much will Section 8 pay for a two-bedroom in ZIP 19962?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,629, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,466 to $1,792 a month; under the ZIP-level Small Area FMR of $1,560 it would be $1,404 to $1,716. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 19962 in?

ZIP 19962 is in the Dover, DE MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,629.

How much did fair market rent change in ZIP 19962 for FY 2027?

The two-bedroom FMR rose 11.4%, from $1,400 in FY 2026 to $1,560 in FY 2027. Since FY 2023 it has risen 44.4%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rentMagnolia, DE fair market rentDE statewide rentsWhat is SAFMR?Data sources